The new app is being developed by the same team that is responsible for Final Cut Pro and iMovie, yet will offer simplified video editing that appeals to the Snapchat and Instagram generation, reports Bloomberg:

Now Apple is starting to develop a video-sharing app that allows users to record video, apply filters, and drawings to the media—much like Snapchat does—and send it to contacts or via existing social networks such as Twitter Inc., according to the people familiar with its development. The software is currently being designed to be used mostly with one hand and with the intention that video could be shot, edited, and uploaded in less than one minute, the people said. At least one of the prototype designs for the app would shoot video in an Instagram-like square shape, one of the people said.

But don’t expect the app this year—if ever. Bloomberg says a 2017 launch date is more likely, and that’s if Apple ever decides to release the app at all. Bloomberg says “the project could be killed” if it fails to progress accordingly or doesn’t end up meeting Apple’s expectations.